a. About what percentage of the observations lie between $325 and $435? Percentage of observations b. About what percentage of the observations lie between $270 and $490? Percentage of observations c. About what percentage of the observations lie between $215 and $5457 Percentage of observations % %
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- The Lakeshore Hotel’s guest-days of occupancy and custodial supplies expense over the last seven months were: Month Guest-Daysof Occupancy CustodialSupplies Expense March 7,000 $ 10,200 April 6,500 $ 10,100 May 9,000 $ 10,600 June 10,500 $ 10,900 July 12,500 $ 11,300 August 11,500 $ 11,100 September 9,000 $ 10,600 Guest-days is a measure of the overall activity at the hotel. For example, a guest who stays at the hotel for three days is counted as three guest-days. Required: 1. Using the high-low method, estimate a cost formula for custodial supplies expense. (Round the Variable cost per guest-day to 2 decimal points.) 2. Using the cost formula you derived above, what amount of custodial supplies expense would you expect to be incurred at an occupancy level of 11,300 guest-days? (Do not round your intermediate…The university satellite office operates five days per week with a daily payroll of $5,000. Employees are paid every Saturday for the workweek just completed (Monday through Friday). The last day of the month is Wednesday, October 31. What is the effect of the correct adjustment at October 31? A. Decrease Wages Expense and increase Wages Payable by $15,000 B. Increases Wages Payable and increases Wages Expense by $25,000 C. Increase Wages Payable and decreases Cash by $10,000 D. Increases Wages Expense and increases Wages Payable by $15,000Moore General Store purchased office supplies on account during the month of March for $5,000. Payment for the supplies will be made in April. On March 1, the balance in the supplies account was $350. On March 31, supplies on hand amounted to $310. What was the amount of supplies used during March? Select one: a. $40 b. $310 c. $4,690 d. $5,040 e. $5,350
- At the beginning of January XYZ Company bought $10,000 of supplies. At that time they paid $3,000 for them and owed the rest. During the month they used $8,000 of supplies. What would be supplies expense under accrual accounting for January? Group of answer choices $7,000 $10,000 $3,000 $8,000On January 25, Choo Choco Factory hired an employee who works five days a week from Monday to Friday and receives a weekly salary of $400 every Friday. Suppose January 31 falls on Wednesday, which of the following is correct on January 31? Select one: a. debit salaries expense and credit cash by $400 b. debit salaries expense and credit salaries payable by $240 c. debit salaries expense and credit cash by $240 d. debit salaries expense and credit salaries payable by $400Unpaid staff salary was P74,540 on 31 December and P96,720 a year prior to it. P856,420 salary was paid during the year. Salaries Expense amounted to P834,240 P878,600 P856,420
- Moore General Store purchased office supplies on account during the month of March for $5,000. Payment for the supplies will be made in April. On March 1, the balance in the supplies account was $350. On March 31, supplies on hand amounted to $310. What amount should appear on the company's March 31 balance sheet as Supplies, and what amount should appear on the company's March income statement as Supplies Expense, respectively? Select one: a. $310, $5,000 b. $350, $5,040 c. $310, $5,040 d. $350, $5,000 e. $310, $5,350The trial balance for Harris Pitch and Putt on June 30 is as follows: Data for month-end adjustments are as follows: a. Expired or used-up insurance, 380. b. Depreciation expense on equipment, 1,950. c. Depreciation expense on repair equipment, 1,650. d. Wages accrued or earned since the last payday, 585 (owed and to be paid on the next payday). e. Supplies remaining at end of month, 120. Required 1. Complete a work sheet for the month. (Skip this step if using CLGL.) 2. Journalize the adjusting entries. 3. If using CLGL, prepare an adjusted trial balance. 4. Prepare an income statement, a statement of owners equity, and a balance sheet. Assume that no additional investments were made during June. If you are using CLGL, use the year 2020 when recording transactions.Prepare journal entries to record the following transactions that occurred in March: A. on first day of the month, purchased building for cash, $75,000 B. on fourth day of month, purchased inventory, on account, $6,875 C. on eleventh day of month, billed customer for services provided, $8,390 D. on nineteenth day of month, paid current month utility bill, $2,000 E. on last day of month, paid suppliers for previous purchases, $2,850
- Amusement tickets estimated sales are: What are the balances in accounts receivable for April, May, and June if 60% of sales are collected in the month of sale, 30% are collected the month after the sale, and 10% are collected the second month after the sale?Suppose your company sells services for $325 cash this month. Your company also pays $100 in salaries and wages, which includes $15 that was payable at the end of the previous month and $85 for salaries and wages of this month. prepare journal entries a) Record the service revenue of $325 for cash. b) Record the salaries and wages paid of $100.Assume the following data for Blossom Care Dry Cleaning for the year ended December 31. • Gross earnings $305,000.00 • All employees’ salaries are greater than $7,000 in the first quarter of employment • Number of employees at the beginning of the year: 10 • One new employee hired during fourth quarter (assume employee earns $7,800 before December 31) • FUTA deposits for the year: $420.00 (a) Determine the amounts entered on Form 940 for the following line items. Line 3: Total payments to all employees $ Line 4: Payments exempt from FUTA tax $ Line 5: Total of payments made to each employee in excess of $7,000 $ Line 7: Total taxable FUTA wages $ Line 8: FUTA tax before adjustments $ Line 13: FUTA tax deposited for the year, including any overpayment applied from a prior year $ Line 14: Balance due $ Line 15: Overpayment $ Line 16a: 1st quarter $ Line 16b: 2nd quarter $ Line 16c: 3rd…